$ENA

$100 Million Event Could Crash Ethena (ENA) Price on August 5

A $100 million ENA token unlock and influx of funds could trigger short-term selling pressure. The price is consolidating in the $0.580–$0.620 range with a bullish bias toward a breakout. The increase in volume contrasts with the weakening MACD, hinting at a possible short-term correction.

Ethena (ENA) is approaching a significant event: a token unlock worth $100 million is scheduled for August 5. This unlock will release 2.7% of the total supply into the market, which could have a major impact on the price. Tensions are heightened by the fact that 250 million ENA tokens have already been transferred to exchanges over the past two weeks.